Renewable Fuel Crop.
Renewable fuels are fuels produced from renewable resources. Examples include: biofuels
(eg. Vegetable oil used as fuel, ethanol, methanol from biomass, orbiodiesel and
Hydrogen fuel (when produced with renewable processes). This is in contrast to non-renewable
fuels such as natural gas, LPG (propane), petroleum and other fossil fuels and nuclear
energy. Renewable fuels can include fuels that are synthesized from renewable energy
sources, such as wind and solar. Renewable fuels have gained in popularity due to
their sustainability, low contributions to the carbon cycle, and in some cases lower
amounts of greenhouse gases. The geo-political ramifications of these fuels are
also of interest, particularly to industrialized economies which desire independence
from Middle Eastern oil.
Hubbert's peak oil theory suggests that petroleum is a finite resource that is rapidly
depleting. Of the worldwide total remaining petroleum reserves of approximately
1,277,702,000,000 barrels (about one half of the original virgin reserves) and a
worldwide usage rate of 25,000,000,000 per year, only about 50 years worth of petroleum
is predicted to remain at the current depletion rate. Petroleum is imperative for
the following industries: fuel (home heating, jet fuel, gasoline, diesel, etc.)
transportation, agriculture, pharmaceutical, plastics/resins, man-made fibers, synthetic
rubber, and explosives. If the modern world remains reliant on petroleum as a source
of energy, the price of crude oil could increase markedly, destabilizing economies
worldwide. Consequently, renewable fuel drivers include: high oil prices, imbalance
of trade, instability in oil exporting regions of the world, the Energy Policy Act
of 2005, the potential for windfall profits for American farmers and industries,
avoidance of economic depression, avoidance of scarcity of products due to a volatile
‘peak oil’ scenario expected to begin as early as 2021, (though peak oil is not
a new idea) and a slowing of global warming that may usher in unprecedented climate
change. Furthermore, the global debate on climate change, along with regional geopolitical
instabilities have challenged nations to act to develop both alternative and carbon-neutral
sources of energy.
Renewable fuels are therefore becoming attractive to many governments,
who are beginning to see sustainable energy independence as a valuable asset.
Source: Wikipedia